This document outlines the key concepts of market segmentation, targeting, and positioning. It discusses:
- Segmentation involves classifying customers into groups based on common characteristics. Targeting is evaluating segment attractiveness and selecting segments to enter. Positioning is defining a product's place relative to competitors in consumers' minds.
- Effective segmentation requires segments be measurable, accessible, substantial, differentiable, and actionable.
- Companies first segment markets, then evaluate and select target segments based on size, growth, and structural attractiveness. They choose a market coverage strategy and position products to compete effectively in targeted segments.
Identifying Market Segments and Targets
Effective Targeting Requires
Four levels of Micromarketing
What is a Market Segment?
Flexible Marketing Offerings
Preference Segments
Segmenting Consumer Markets
Behavioral Segmentation
The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage
Loyalty Status
Segmenting for Business Markets
Steps in Segmentation Process
Effective Segmentation Criteria
Identifying Market Segments and Targets
Effective Targeting Requires
Four levels of Micromarketing
What is a Market Segment?
Flexible Marketing Offerings
Preference Segments
Segmenting Consumer Markets
Behavioral Segmentation
The Brand Funnel Illustrates Variations in the Buyer-Readiness Stage
Loyalty Status
Segmenting for Business Markets
Steps in Segmentation Process
Effective Segmentation Criteria
Conducting Marketing Research
What is Marketing Research?
Types of Marketing Research Firms
The Marketing Research Process
Marketing Research Process
Characteristics of Good Marketing Research
What is Marketing-Mix Modeling?
Marketing Dashboards
This presentation is a general introduction/refresher to marketing planning and it will guide you through the planning process and building the plan itself. The presentation starts with an overview of marketing and this part is generally aimed individuals with limited marketing management experience or marketers who want a refresher. The next sections go into the market planning process, marketing communications planning, marketing budgets and forecasts, and the final section covers writing the marketing plan.
Conducting Marketing Research
What is Marketing Research?
Types of Marketing Research Firms
The Marketing Research Process
Marketing Research Process
Characteristics of Good Marketing Research
What is Marketing-Mix Modeling?
Marketing Dashboards
This presentation is a general introduction/refresher to marketing planning and it will guide you through the planning process and building the plan itself. The presentation starts with an overview of marketing and this part is generally aimed individuals with limited marketing management experience or marketers who want a refresher. The next sections go into the market planning process, marketing communications planning, marketing budgets and forecasts, and the final section covers writing the marketing plan.
Brief introduction to the STP process - A marketing strategy is based on expected customer behavior in a certain market. In order to know the customer and its expected buying process of segmenting, targeting and positioning is needed.
Market coverage strategy is determined by the external and internal factors. Accordingly, the market coverage strategy includes: concentrated marketing strategy, undifferentiated marketing strategy, and differentiated marketing strategy. It is for the company to decide whether the whole market has to be covered with a single marketing mix or does different markets need a separate marketing mix.
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Market Segmentation, Targeting, and Positioning - Leonard.pptxVisualSoft1
Segmentation is the process of classifying customers into groups which share some common characteristic
Targeting involves the process of evaluating each segments attractiveness and selecting one or more segments to enter
Positioning is arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the mind of the consumer
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A handy guide to segmenting your prospects & clients in a digitally-driven company
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A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
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Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
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Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
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When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
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2. LLeessssoonn OObbjjeeccttiivveess
• When you have completed this lesson you will be able
to;
– Summarise the relationship between market segmentation,
targeting and positioning
– Identify and describe the major variables for consumer
segmentation
– Outline how companies select target markets and implement
segmentation strategies
– Show how market segmentation and the marketing mix are
interlinked in the positioning strategy
3. TThhee SSTTPP PPrroocceessss
• Segmentation is the process of classifying customers
into groups which share some common characteristic
• Targeting involves the process of evaluating each
segments attractiveness and selecting one or more
segments to enter
• Positioning is arranging for a product to occupy a
clear, distinctive and desirable place relative to
competing products in the mind of the consumer
4. TTaarrggeett MMaarrkkeett
• A market is a set of all actual and potential buyers
• A target market is a group of people toward whom a
firm markets its goods, services, or ideas with a
strategy designed to satisfy their specific needs and
preferences.
• Any marketing strategy must include a detailed
(specific) description of this.
5. AAddvvaannttaaggeess ooff SSeeggmmeennttaattiioonn ((pppp 116644 -- 116655))
1. The process of breaking up a homogeneous market
into heterogeneous segments forces the marketer to
analyse and consider both the needs of the market
and the company’s ability to competently serve those
needs – thereby making the company better informed
about its customers
2. Competitor offerings and marketing positioning must
also be analysed in this context so the company must
consider what its competitive advantages and
disadvantages are, helping it to clarify its own
positioning strategy
3. Limited resources are used to best advantage,
targeted at those segments that offer the best
potential
6. Requirements Requirements ffoorr EEffffeeccttiivvee SSeeggmmeennttaattiioonn
• Size, purchasing power, profiles
of segments can be measured.
• Segments can be effectively
reached and served.
• Segments are large or
profitable enough to serve.
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• Segments must respond
differently to different marketing
mix elements & programs.
• Effective programs can be
designed to attract and serve
the segments.
7. Steps in Segmentation, Targeting, and
Positioning
6. Develop Marketing
Mix for Each Target Segment Market
5. Develop Positioning
for Each Target Segment
4. Select Target
Segment(s)
3. Develop Selection Criteria
2. Develop Profiles
of Resulting Segments
1. Identify Bases
for Segmenting the Market
Positioning
Market
Targeting
Market Segmentation
8. Step 1. Market Segmentation
Levels of Market Segmentation
Mass Marketing
Mass Marketing
Same product to all consumers
Same product to all consumers
((no no segmentation)
segmentation)
Segment Marketing
Segment Marketing
Different products to one or more segments
Different products to one or more segments
(some segmentation)
(some segmentation)
Niche Marketing
Niche Marketing
Different products to subgroups within segments
Different products to subgroups within segments
(more segmentation)
(more segmentation)
Micromarketing
Micromarketing
Products to suit the tastes of individuals and locations
Products to suit the tastes of individuals and locations
(complete segmentation)
(complete segmentation)
Local Marketing
Tailoring brands/ promotions
to local customer groups
Individual Marketing
Tailoring products/ programs
to individual customers
9. Step 1. Market Segmentation
Bases Bases for for Segmenting Segmenting Consumer
Consumer
Markets
Markets
Geographic
Demographic
Age, gender, family size
and life cycle,
or income
Psychographic
Social class, lifestyle,
or personality
Behavioural
Occasions, benefits
sought, user status,
usage rate, loyalty
Nations, states,
regions or cities
10. Step 1. Market Segmentation
Bases for Segmenting Business Markets
Bases for Segmenting Business Markets
Personal Demographics
Bases
Bases
for Segmenting
for Segmenting
Business
Markets
Business
Markets
Characteristics
Situational
Factors
Operating
Characteristics
Purchasing
Approaches
11. Segmenting Business
Markets
• Segmentation by customer size or geographic location
• Four segments of business customers
– Programmed buyers
– Relationship buyers
– Transaction buyers
– Bargain hunters
12. Step 1. Market Segmentation
Bases for Segmenting International Markets
Bases for Segmenting International Markets
Political/
Legal
Political/
Legal
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13. LLiinnkkiinngg tthhee CCoonncceeppttss
• Using the segmentation bases you’ve just
heard about, segment the Irish clothing
market.
>Describe each of the major segments and
subsegments.
14. Step 2. Market Targeting
Evaluating Market Segments (developing
selection criteria)
• SSeeggmmeenntt SSiizzee aanndd GGrroowwtthh
Evaluating Market Segments (developing
selection criteria)
– Analyze sales, growth rates and expected profitability for
various segments.
• SSeeggmmeenntt SSttrruuccttuurraall AAttttrraaccttiivveenneessss
– Consider effects of: Competitors, Availability of Substitute
Products and, the Power of Buyers & Suppliers.
• CCoommppaannyy OObbjjeeccttiivveess aanndd RReessoouurrcceess
– Company skills & resources relative to the segment(s).
– Look for Competitive Advantages.
15. Step 2. Market Targeting
Market Coverage Strategies
Market Coverage Strategies
SSeeggmmeenntt 1 1
SSeeggmmeenntt 2 2
SSeeggmmeenntt 3 3
SSeeggmmeenntt 1 1
SSeeggmmeenntt 2 2
SSeeggmmeenntt 3 3
Company
Marketing
Company
Marketing
Mix
Mix
Company
Company
Marketing Mix 1
Marketing Mix 1
Company
Company
Marketing Mix 2
Marketing Mix 2
Company
Company
Marketing Mix 3
Marketing Mix 3
Company
Marketing
Company
Marketing
Mix
Mix
MMaarrkkeett
A. Undifferentiated Marketing
B. Differentiated Marketing
C. Concentrated Marketing
17. LLiinnkkiinngg tthhee CCoonncceeppttss
• At the last ‘linking the concepts’, you segmented
the Irish clothing market.
>Now, pick two companies that serve this market and
describe their segmentation and targeting strategies.
>Can you come up with one that targets many different
segments versus another that focuses on only one or
a few segments?
• How does each company you choose
differentiate its marketing offer and image?
• How has each done a good job of establishing
this differentiation in the minds of targeted
consumers?
18. Step 3. Positioning for Competitive
Advantage
• PPrroodduucctt’’ss PPoossiittiioonn - the way the product is
defined by consumers on important
attributes - the place the product occupies
in consumers’ minds relative to competing
products.
• Marketers must:
–Plan positions to give their products the
greatest advantage in selected target markets,
–Design marketing mixes to create these
planned positions.
19. Step 3. Positioning for Competitive
Advantage: Strategies
Product
Class
Away from
Competitors
Against a
Competitor
Against a
Competitor
Product
Attributes
Benefits
Offered
Usage
Occasions
Usage
Occasions
Away from
Competitors
Product
Attributes
Product
Class
Benefits
Offered
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20. Steps to Choosing and Implementing
a Positioning Strategy
• Step 1. Identifying Possible Competitive
Advantages: Competitive Differentiation.
• Step 2. Selecting the Right Competitive
Advantage: Unique Selling Proposition (USP).
• Step 3. Communicating and Delivering the
Chosen Position.
• Step 4. Support the positioning strategy with a
unique marketing mix
21. Developing Competitive
Differentiation
PPrroodduucctt SSeerrvviiccee
Areas for Competitive
Areas for Competitive
Differentiation
Differentiation
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22. Selecting the Right Competitive
Advantages
Criteria
for
Determining
Which
Differences
Criteria
for
Determining
Which
Differences
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23. Step 4 – Supporting the
positioning strategy
• At this stage the company has decided on its
positioning strategy and must now design a marketing
mix to support this strategy. The next part of the
course looks at ‘Developing the Marketing Mix’
24. RReevviieewwiinngg tthhee CCoonncceeppttss
• Define the three steps of target marketing: market
segmentation, market targeting, and market
positioning.
• List and discuss the major levels of market
segmentation and bases for segmenting consumer
and business markets.
• Explain how companies identify attractive market
segments and choose a market coverage strategy.
• Discuss how companies position their products
for maximum competitive advantage in the
marketplace.
